China-backed Blockchain Project Proposes SWIFT Alternative for Stablecoins and CBDCs

China-backed Blockchain Project Proposes SWIFT Alternative for Stablecoins and CBDCsThe company developing China’s blockchain network wants to create a system for international settlements with stablecoins and state-issued digital currencies. The plan is to establish a platform facilitating the use of these two fiat-based digital assets in foreign trade. Company Behind China’s Blockchain Push Aims to Make Stablecoins and State Coins Interoperable Hong Kong-based Red […]

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IMF Division Chief and Deputy Managing Director Call for Swift Regulatory Action to Avoid Crypto Contagion to Legacy Finance

IMF international Monetary Fund crypto contagion risksAn International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF, and Bo Li, deputy managing […]

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Defi Lending Sector Experiences Major Shake-Up: 71% of Total Value Locked Evaporates in 12 Months

Defi Lending Sector Experiences Major Shake-Up: 71% of Total Value Locked Evaporates in 12 MonthsDecentralized finance (defi) has continued to remain deeply ingrained in the cryptocurrency economy as the ecosystem provides users with a non-custodial way to exchange digital assets, lend cryptocurrencies, issue stablecoins, and ways to profit from arbitrage. In the lending sector of defi, a lot has changed during the last 12 months as lending applications like […]

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Cornell Professor Warns of Disruption to US Bond Market From Potential Collapse of Major Stablecoin

Cornell Professor Warns of Disruption to U.S. Bond Market From Potential Collapse of Major StablecoinA professor from Cornell University has warned about the potential effects a collapse of a major stablecoin could have on the U.S. bond market. Eswar Prasad said that if large stablecoins face a collapse, the number of Treasury bonds they would need to sell could disrupt the U.S. Treasuries market, affecting prices. Cornell Profesor Alerts […]

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UK Treasury Considers Digital Pound, Maintains Crypto Hub Objective

UK Treasury Considers Digital Pound, Maintains Crypto Hub ObjectiveThe U.K. is mulling over launching a digital pound as it remains committed to becoming a cryptocurrency hub, a government representative has indicated. British authorities should also regulate payments with stablecoins, according to the official. United Kingdom Prepares to Begin Consultation on Digital Pound Currency The executive power in London is considering the introduction a […]

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Brazilians Turn to Stablecoins as Alternative to US Dollar for Hedge Against Volatility

brazilians stablecoins dollarBrazilians are turning to stablecoins as a way of shielding themselves from the volatility of economic circumstances. This is happening now in the wake of the inauguration of the new government of Luis Inacio “Lula” Da Silva. According to statements coming from exchange executives, the trading volumes of stablecoins have soared in 2022, especially during […]

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Tron’s USDD Stablecoin Experiences Fluctuations Again, Drops Below $1 Parity in Early 2023

The Tron-based stablecoin USDD fell below $1 parity again during the first week of 2023 and on Jan. 10. Four days ago, the stablecoin dropped to $0.972 per unit and on Tuesday, Jan. 10, 2023, USDD slipped to $0.977 per unit. At the time of writing, the Tron-issued stablecoin is trading at 98 cents per […]

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Global Cryptocurrency Trade Volumes Saw a Significant Decline in December 2022

According to statistics, daily cryptocurrency trade volumes have dropped significantly during Dec. 2022. On Jan. 1, data shows that $22.95 billion was traded in the last 24 hours, compared to double that amount, $54.78 billion, two weeks earlier. On November 8, 2022, 54 days prior, amid the FTX collapse, global cryptocurrency trade volumes were approximately […]

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